Mexico’s largest electronic payments processor has implemented NCR’s Authentic from Alaric as its new payments transactions platform. E-Global provides switching and card processing services to nearly two-thirds of Mexico’s 350,000 point-of-sale (POS) devices.
Bancomer Transfer Services signed an agreement with Wal-Mart de Mexico y Centroamerica that will enable BTS customers to collect remittances directly at the stores of one of Mexico’s largest retailers. Tje BTS’s money transfer system will now be available through Wal-Mart’s 1,100 stores in the country. Remittances constitute a major bond between Mexico and the U.S.: In April 2014, remittances to Mexico grew 2.1 percent year-over-year, according to Mexico’s Central Bank. Wal-Mart de Mexico y Centroamerica, a subsidiary of Wal-Mart Stores Inc., said that the deal makes the retailer even more of a convenient destination for its customers.
Xoom Corporation, a leading internet-based money transfer company, today announced its partnership with Ecuador’s largest private bank, Banco Pichincha. This new partnership enables Xoom to offer its users deposits in two hours to a Banco Pichincha account and cash pickup at almost 303 additional locations in 30 minutes throughout Ecuador. Xoom and Pichincha’s partnership shortens…
24/7 Card financial services company is now offering the Hispanic market the prepaid Visa debit and remittance card, designed for immigrants living in the United States. The combination of “Debit + Remit” is available through the card, offering the convenience of a prepaid debit card and the ability to send money overseas directly and securely from the card account ” 24 hours a day, 7 days a week. Meanwhile, adding cash to 24/7® Card is secure, while direct deposit and bank transfers are offered free of charge. Cash can also be loaded to 24/7® Cards at over 100,000 convenient retail locations throughout the United States, including most Walmart, 7-11, CVS, Rite-Aid, Safeway, and other locations. 24/7® Cards can also be loaded at Western Union and Moneygram locations.
Wells Fargo & Company expanded its “ExpressSend” remittance network through an agreement with Bancomer Transfer Services and will extend its consumer remittance payout network distribution to seven additional financial institutions. This will include partnerships with banks in the Dominican Republic, Ecuador, El Salvador, Mexico, Nicaragua and Peru. Wells Fargo ExpressSend customers now have 35,800 remittance payout locations to send money to 15 countries in Latin America and Asia.
E-Global electronic payment processor purchased INETCO “Insight” business transaction management software to manage its expanding payment operations. E-Global provides switching and card processing services for large merchant retailers and major banks in Mexico, including BBVA Bancomer and Citibank’s Banamex Mexico. E-Global can now reliably process more than 100 million transactions per month and proactively manage their growing volume of POS, ATM, e-commerce and mobile phone transactions. INETCO Systems offers transaction monitoring and application performance monitoring for the payment processing, ATM and banking industries.
INETCO Systems a leading expert in transaction monitoring and application performance monitoring for the payment processing, ATM and banking industries, announced E-Global, Mexico’s largest electronic payment processor, has purchased INETCO Insight business transaction management software to manage its expanding payment operations. E-Global provides switching and card processing services for large merchant retailers and major banks in Mexico, including BBVA Bancomer and Citibank’s Banamex Mexico. The Company will use INETCO Insight to continuously monitor transaction flows across a growing number of connections out to banks and large retail merchants.
Wells Fargo has expanded its “ExpressSend” remittance network in Mexico through an agreement with Houston-based Transnetwork Corporation. Adding more than 4,000 payout locations in Mexico for a total of more than 9,000 locations, the remittance payout network with the expansion includes Soriana, Famsa, BBVA Bancomer, HSBC Mexico, Banorte and Telecomm Telegrafos. This allows more customers to send money directly to their beneficiary for one low transfer fee. Transnetwork provides a turnkey solution to money transfer organizations and banks by offering a large and diversified payment network in Mexico and Latin America.
Wells Fargo has expanded its “ExpressSend” remittance network in Mexico through an agreement with Houston-based Transnetwork Corporation. Adding more than 4,000 payout locations in Mexico for a total of more than 9,000 locations, the remittance payout network with the expansion includes Soriana, Famsa, BBVA Bancomer, HSBC Mexico, Banorte and Telecomm Telegrafos. This allows more customers to send money directly to their beneficiary for one low transfer fee. Transnetwork provides a turnkey solution to money transfer organizations and banks by offering a large and diversified payment network in Mexico and Latin America.
Visa and Bancomer Transfer Services have launched a money transfer service that will provide an additional alternative for consumers that send money from the United States to friends and family living abroad. Consumers will be able to initiate a Visa money transfer transaction at any BTS location in the United States. The Visa money transfer transaction can reach any eligible Visa account in the world, including all key remittance destination countries, including El Salvador, Brazil, China and The Philippines, with plans to extend the program to allow remittances from BTS locations to any country within the Visa network. The Latin America corridor is one of the largest money transfer markets in the world, with a total of USD $58.8 billion transferred in 2009. In 2009, BTS alone accounted for USD $10 billion in consumer funds transferred to Latin America, making BTS one of the largest processor of remittances for this region. Other large remittances markets served by BTS from the U.S. include Asia, Europe and Africa.
Fiserv reported that third quarter revenues declined 4.4% to $992
million, compared to 3Q/08. However, net income rose 47% to $115
million. The financial segment operating margin increased 310 basis
points in the quarter to 29.6% through improved business mix, ongoing
cost efficiencies, and strength in the account processing business.
Fiserv signed 85 electronic bill payment clients in the quarter and a
total of 294 clients in 2009. Additionally, the company added 58
EFT/Debit clients in the third quarter and 164 clients so far in 2009.
Fiserv launched “Acumen,” a new global core account processing solution
for the U.S. large credit union market. During the quarter, Citi Prepaid
signed an agreement with Fiserv to provide millions of prepaid cards
including plastic manufacturing, personalization and fulfillment
services. Also, GreenChoice Bank, a Chicago-based de novo financial
institution, selected Fiserv as its technology partner. The company
expects adjusted internal revenue growth in the fourth quarter to be in
a range of 0% to 2%. For complete details on Fiserv’s third quarter
performance visit CardData (www.carddata.com).
BBVA Bancomer has begun deploying the VeriFone “MX ATM” payment kiosk
across Mexico, among which it’s currently installing a customized
version at one of the largest drug store chains in the country. Bancomer
is also planning to invest more than $10 million to expand the
deployment in 2010 to represent 10% of its ATM network footprint. The
“MX ATM” recycles cash deposits from individual consumers and retail
receipts for cash withdrawals on a secure, highly manageable payment and
cash dispensing kiosk, intended for environments such as hotels,
department stores, night clubs, and enterprises. Merchants can install
VeriFone MX ATM to dispense and/or deposit cash and provide a variety of
value-added services including telco top-up, bill payment, money
transfer, couponing, redemption, and reloading of prepaid cards.